TZINX vs. MSTGX

Last updated Apr 3, 2026

Compare and contrast key facts about Templeton Global Balanced Fund (TZINX) and Morningstar Global Income Fund (MSTGX).

TZINX is managed by Franklin Templeton. It was launched on Jun 30, 2005. MSTGX is managed by Morningstar. It was launched on Nov 1, 2018.

Performance

TZINX vs. MSTGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Templeton Global Balanced Fund (TZINX) and Morningstar Global Income Fund (MSTGX). The values are adjusted to include any dividend payments, if applicable.

TZINX vs. MSTGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TZINX Templeton Global Balanced Fund	1.94%	27.85%	0.73%	14.45%	-14.31%	-1.44%	1.70%	7.58%	-6.49%
MSTGX Morningstar Global Income Fund	3.40%	12.04%	5.36%	11.91%	-11.18%	8.46%	3.92%	19.97%	-3.56%

Returns By Period

In the year-to-date period, TZINX achieves a 1.94% return, which is significantly lower than MSTGX's 3.40% return.

TZINX

• 1D: 0.68%
• 1M: -2.63%
• YTD: 1.94%
• 6M: 6.67%
• 1Y: 23.12%
• 3Y*: 12.30%
• 5Y*: 4.10%
• 10Y*: 4.45%

MSTGX

• 1D: 0.29%
• 1M: -1.99%
• YTD: 3.40%
• 6M: 4.46%
• 1Y: 10.27%
• 3Y*: 9.72%
• 5Y*: 4.88%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TZINX vs. MSTGX - Expense Ratio Comparison

TZINX has a 0.95% expense ratio, which is higher than MSTGX's 0.62% expense ratio.

TZINX

Templeton Global Balanced Fund

MSTGX

Morningstar Global Income Fund

Return for Risk

TZINX vs. MSTGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TZINX

TZINX Risk / Return Rank: 88
TZINX Sharpe Ratio Rank: 90
TZINX Sortino Ratio Rank: 89
TZINX Omega Ratio Rank: 86
TZINX Calmar Ratio Rank: 89
TZINX Martin Ratio Rank: 88

MSTGX

MSTGX Risk / Return Rank: 76
MSTGX Sharpe Ratio Rank: 74
MSTGX Sortino Ratio Rank: 78
MSTGX Omega Ratio Rank: 75
MSTGX Calmar Ratio Rank: 73
MSTGX Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TZINX vs. MSTGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Templeton Global Balanced Fund (TZINX) and Morningstar Global Income Fund (MSTGX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	TZINX	MSTGX	Difference
Sharpe ratio Return per unit of total volatility	2.00	1.48	+0.52
Sortino ratio Return per unit of downside risk	2.68	2.17	+0.51
Omega ratio Gain probability vs. loss probability	1.39	1.32	+0.07
Calmar ratio Return relative to maximum drawdown	2.80	2.06	+0.75
Martin ratio Return relative to average drawdown	10.77	9.27	+1.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TZINX vs. MSTGX - Sharpe Ratio Comparison

The current TZINX Sharpe Ratio is 2.00, which is higher than the MSTGX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of TZINX and MSTGX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TZINX	MSTGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	1.48	+0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.63	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.60	-0.16

Correlation

The correlation between TZINX and MSTGX is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TZINX vs. MSTGX - Dividend Comparison

TZINX's dividend yield for the trailing twelve months is around 4.90%, more than MSTGX's 2.53% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TZINX Templeton Global Balanced Fund	4.90%	4.00%	5.43%	3.68%	3.47%	2.24%	2.12%	4.43%	4.55%	2.82%	1.12%	7.19%
MSTGX Morningstar Global Income Fund	2.53%	2.97%	6.64%	6.32%	8.79%	10.48%	2.96%	4.11%	0.56%	0.00%	0.00%	0.00%

Drawdowns

TZINX vs. MSTGX - Drawdown Comparison

The maximum TZINX drawdown since its inception was -36.06%, which is greater than MSTGX's maximum drawdown of -27.52%. Use the drawdown chart below to compare losses from any high point for TZINX and MSTGX.

Drawdown Indicators

	TZINX	MSTGX	Difference
Max Drawdown Largest peak-to-trough decline	-36.06%	-27.52%	-8.54%
Max Drawdown (1Y) Largest decline over 1 year	-8.42%	-5.04%	-3.38%
Max Drawdown (5Y) Largest decline over 5 years	-29.60%	-19.64%	-9.96%
Max Drawdown (10Y) Largest decline over 10 years	-29.60%	—	—
Current Drawdown Current decline from peak	-6.21%	-3.63%	-2.58%
Average Drawdown Average peak-to-trough decline	-7.52%	-4.38%	-3.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	1.46%	+0.73%

Volatility

TZINX vs. MSTGX - Volatility Comparison

Templeton Global Balanced Fund (TZINX) has a higher volatility of 4.79% compared to Morningstar Global Income Fund (MSTGX) at 2.17%. This indicates that TZINX's price experiences larger fluctuations and is considered to be riskier than MSTGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TZINX	MSTGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.79%	2.17%	+2.62%
Volatility (6M) Calculated over the trailing 6-month period	7.94%	4.37%	+3.57%
Volatility (1Y) Calculated over the trailing 1-year period	11.59%	8.67%	+2.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.81%	8.14%	+3.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.33%	10.90%	+0.43%